ExciteAtHome's viability questioned

Also: J.P. Morgan raises cuts; Disney plans debt offering

By

LeticiaWilliams

WASHINGTON (CBS.MW) - ExciteAtHome's auditor Ernst & Young says the company's inability to maintain Nasdaq requirements coupled with recurring operating losses raises substantial doubt whether the company will be able to continue as a going concern.

If Nasdaq delists At Home's
ATHM, -0.14%
common stock, terms on the company's $100 million of convertible notes provide for their immediate acceleration of repayment in cash. See full story.

J.P. Morgan raises job cuts

J.P. Morgan Chase & Co. has increased the number of job cuts it expects by roughly 60 percent, according to a published report.

In the company's
JPM, +0.42%
Form 10-Q filed with the Securities and Exchange Commission, JP Morgan Chase said it had partially offset an increase in compensation expense in the second quarter by cutting jobs, mainly in its investment bank and investment management and private banking sector. See full story.

Disney debt offering

Walt Disney Co. has registered to raise $7.5 billion in securities sales, money that could be used to fund an acquisition war chest and lower the cost on debt from a recent purchase.

Disney
DIS, -0.88%
said in SEC filings late Friday it would seek roughly $6.4 billion via unregistered securities. The company also sought another $1.1 billion in the issuance of already registered securities. See full story.

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